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Gafa Tax to be Imposed on Tech Giants Facebook and Google, French Lawmakers have Approved for this Tax

Monali Gupta

MPs on Monday approved a new tax on companies like Facebook and Apple on Monday. Because of this, it has to face the US's resentment. France's Finance Minister Bruno Le Maire said that France is proud to take such a step. The United States urged France to avoid this plan. US Secretary of State Mike Pompey had said that this plan would affect both the American company and the French citizens who use these forums.

In the National Assembly, this proposal was approved with 55 votes while 4 votes against it. 5 MPs did not participate in the poll. It will be placed before voting in the Senate or Upper House before becoming a law. This law has been named 'Gafa' (Google, Amazon, Facebook, and Apple). It has come at a time when some of the world's richest companies are facing outrage because of paying less tax.

France's finance minister said before voting in parliament, "France is proud to lead the issue in this way." This draft is a step in the direction of a more effective and fair tax system for the 21st century. "He said that it is' unacceptable 'that digital sector giants earn huge profits from consumers' data, but' the profit in France is taxed abroad.''

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